Japan banking giant to sell country's first yuan bond

AFP, TOKYO: One of Japan's biggest banks yesterday said it would sell bonds denominated in China's yuan currency as frosty ties between the major trading partners show signs of thawing.
Bank of Tokyo-Mitsubishi UFJ, a unit of Mitsubishi UFJ Financial Group, said it would raise 350 million yuan ($56 million) through the two-year bond offering that would be sold to Japanese life insurers, regional banks and other institutional investors.
The sale next week would be a first for Japan, it said, following yuan bond sales by British and Singaporean lenders and major firms including US fast-food giant McDonald's and heavy-equipment maker Caterpillar.
"We understand this will be the first issuance of yuan bonds in our country," said a company spokesman.

Japan banking giant to sell countrys first yuan bond

AFP, TOKYO: One of Japans biggest banks yesterday said it would sell bonds denominated in Chinas yuan currency as frosty ties between the major trading partners show signs of thawing. Bank of Tokyo-Mitsubishi UFJ, a unit of Mitsubishi UFJ Financial Group, said it would raise 350 million yuan ($56 million) through the two-year bond offering that would be sold to Japanese life insurers, regional banks and other institutional investors. The sale next week would be a first for Japan, it said, following yuan bond sales by British and Singaporean lenders and major firms including US fast-food giant McDonalds and heavy-equipment maker Caterpillar. We understand this will be the first issuance of yuan bonds in our country, said a company spokesman.